Wells Fargo & Company Forecasts Strong Price Appreciation for Lockheed Martin (NYSE:LMT) Stock

Lockheed Martin (NYSE:LMT - Free Report) had its price target hoisted by Wells Fargo & Company from $468.00 to $476.00 in a report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the aerospace company's stock.

A number of other brokerages also recently commented on LMT. JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target of $554.20.

Remove Ads

Lockheed Martin Trading Up 2.8 %

Shares of LMT stock traded up $12.81 during mid-day trading on Friday, reaching $474.31. The stock had a trading volume of 2,168,686 shares, compared to its average volume of 1,114,230. The firm has a market capitalization of $111.65 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The stock's 50-day moving average price is $462.89 and its two-hundred day moving average price is $521.59. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts expect that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. Lockheed Martin's payout ratio is presently 59.30%.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. 0.17% of the stock is owned by insiders.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the 3rd quarter worth about $26,000. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in Lockheed Martin in the third quarter worth approximately $40,000. Institutional investors own 74.19% of the company's stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.